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Looking at the last two Blackrock holdings RNS, the financial instruments they held are listed as Securities Lending. I assume this means they have lent out Solg shares under an SLA with title transfer. Since they have the unconditional right to receive the shares back at the end of the stock loan and assuming the borrower doesn't intend to exercise the voting rights then any loaned shares would still be disclosable by Blackrock in the aggregate holdings - it was 4.92% held outright and 0.08% via securities lending for a total of 5%. This is probably just part of their BAU stock lending operations to boots fund returns or offset management costs... The borrowers of stock are normally borrowing to short though so make of that what you will. It's a tiny percentage of the total shares in this case.
Nice one rCgL2.
Z
Excellent post at 15.07 rcgl2.
That's my point, but you explain it more eloquently.
Speaking of CFDs and spread betting, I have wondered if some of the blocks we see on the order book are the spread betting companies hedging themselves. I think they try to hedge their books internally if possible, offsetting customer longs vs customer shorts. Obviously only possible if there is enough volume on the book in both directions and if they can't do that I assume they hedge themselves in the market by buying and selling the underlying shares.
BNC pointed out that you can't short Solg on IG, so presumably they have to hedge all their customer longs in the market. Knowing how Solg trades I wonder if there are a lot of day traders who trade Solg via CFD or spreadbetting and set limits to capture the gains of any spikes. Could these large blocks at round number prices above the market price be spread betters hedging?
It would be preferable if the company tried to stimulate some interest for once.
Pathetic volume again today but we've gone from 27 to 27.9; back to 27; up to 28 and back now to 27.65/27.75...
And mainly piffling ALGO trades...
Maybe MMs are trying to stimulate interest...
I don't believe that either rcgl...but that doesn't prevent MMs hedging their book while, for example, a substantial buy order is being filled...
rcgl...I got my post at that time removed...one of the posters said they got it done...it wasn't in any way offensive...how does that happen?
I concluded that LSE owners must be into GGP...
People seem to forget that if it wasn't for the designated market makers, there wouldn't actually be a market in half the stocks people here invest in. The volumes on a lot of these smaller names are pitiful. Try selling your investment when you need to cash out if there weren't market makers willing to make a bid to you every day.
Obviously they have to make a profit as they are not charities. But if a market maker was bidding 27.9p this morning and now they are only bidding 27p and no one is bidding higher than that then there we go, that's the best price anyone is willing to buy your shares at. If there were loads of people bidding higher than that then you'd get a higher price but clearly they aren't.
Short term and intraday price movements are just noise. The market makers don't arbitrarily decide the price just to screw over PIs, the market ultimately dictates the price and the market makers are a large part of that market for low volume stocks. If investors were falling over themselves to get their hands on Solg shares then the price would rise but obviously they aren't right now, or at least not so much that the price rockets to the moon.
I'd rather have MMs making a market so I know my investment is liquid if I ever needed to get cash out rather than buying some tiny illiquid name where you can't even get a bid most days.
And let's face it, if you think MMs are deliberately suppressing the price so their hedge fund mates and clients can load up on the cheap, then great! So can we! And why would they be loading up in the first place? Not just so they can watch their investment stagnate while their market maker chums sit on the price forever. If you really believe an evil cabal of banksters and hedgies are loading up on the cheap then that's actually a good thing.
Personally I don't believe that, I think the market just doesn't value Solg at much more than £600k-£700k until it delivers Alpala PFS, funding package, more amazing regional news or some sort of corporate action. Until such time as those happen, the SP waits.
Rcgl2,true ,it wouldn't surprise me to see ,I sold out the other day or sold at a high post coming soon ,like I say you live and learn dyor ,stick to strong fundamentals and a plan that doesn't mean dilution, millions of shares issued etc
Well Red,no green post yet on my portfolio ,must be packing for H holidays after school,or he's put his head in the sands in Australia out back lol!!:) live and learn ,dyor,Thanks Pinot nice to hear from you .
Red, what's even more ridiculous is Miagi getting banned for a week from LSE for posting on the GGP board that it was overvalued and people buying at 35p+ might lose a load of money. Apparently telling them it was massively overvalued was disruptive, abusive and not the type of thing that's allowed... I pity the people who were putting their entire SIPPs into it at those prices, even though it's an idiotic thing to do in the first place.
Or, like SOLG, they could be a punt at these prices...
Hmm...I politely suggested people took profits in GGP in the high 30s and switched into SOLG but got hammered for it...
They're now barely above an 11 month low being more than 50% down...
I was always puzzled why they would hang on while waiting to be diluted to 75% on Havieron when they could have 85% of Alpala and 100% of the other gems here...
And they are also a hostage to fortune on the whims of NCM...
Ho hum...NOT being clever after the event, I assure you...
Red, O/T bet a few not happy with their ggp investment today more shares issued ,wait for it the green poster is coming !!:),
How come the shares were bought up to 27.9p and quoted at 27.9/28 and then get whacked down on pathetic volume...
MMs manipulate shares, let alone anyone else...they're in it to make money...
And you don't have to short shares to knock them back. You build a big enough holding (or already have one) and sell the shares in sufficient volume relative to the overall volume on the day when they are weak, reversing the transaction when they have gone low enough to satisfy your agenda...